The Collaborative International Dictionary of English v.0.48:

Razee \Ra*zee"\ (r[.a]*z[=e]"), n. [F. vaisseau ras['e], fr.
   raser to raze, to cut down ships. See Raze, v. t., Rase,
   v. t.] (Naut.)
   An armed ship having her upper deck cut away, and thus
   reduced to the next inferior rate, as a seventy-four cut down
   to a frigate. --Totten.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Razee \Ra*zee"\, v. t. [imp. & p. p. Razeed (r[.a]*z[=e]d");
   p. pr. & vb. n. Razeeing.]
   To cut down to a less number of decks, and thus to an
   inferior rate or class, as a ship; hence, to prune or abridge
   by cutting off or retrenching parts; as, to razee a book, or
   an article.
   [1913 Webster]